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Making It

By

Jesse EisingerStaff Reporter of The Wall Street Journal

Updated July 1, 2003 12:01 a.m. ET

Tuesday is the first day of the rest of the stock market's life.

Yes, the second half has arrived, the very thing market sages have looked toward hopefully for months (at least after it became clear that a first-half recovery would fail to materialize). And now they are preaching patience, saying that no one could expect an explosion of a rebound. They say there will be a gradual easing of concerns and building of confidence. That will lead toward a rebuilding of inventories, rising business investment and then, an improvement...